Atlantic Union Bankshares (NASDAQ:AUB) Price Target Cut to $40.00 by Analysts at Hovde Group

Atlantic Union Bankshares (NASDAQ:AUB) had its price target trimmed by Hovde Group from $46.00 to $40.00 in a research note released on Monday, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. Piper Sandler began coverage on shares of Atlantic Union Bankshares in a report on Monday, January 13th. They issued an “overweight” rating and a $51.00 price target on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating for the company in a research report on Thursday, January 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Atlantic Union Bankshares has an average rating of “Moderate Buy” and a consensus target price of $43.20.

Atlantic Union Bankshares Price Performance

NASDAQ:AUB opened at $32.63 on Monday. Atlantic Union Bankshares has a one year low of $30.43 and a one year high of $44.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 14.25 and a beta of 0.91. The firm’s fifty day moving average is $36.25 and its two-hundred day moving average is $38.13.

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.34 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.17%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 59.39%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in shares of Atlantic Union Bankshares by 27.3% during the 4th quarter. GAMMA Investing LLC now owns 1,325 shares of the company’s stock worth $50,000 after purchasing an additional 284 shares during the last quarter. HighPoint Advisor Group LLC raised its position in shares of Atlantic Union Bankshares by 5.2% during the 4th quarter. HighPoint Advisor Group LLC now owns 6,292 shares of the company’s stock worth $244,000 after purchasing an additional 312 shares during the last quarter. Atria Investments Inc raised its position in shares of Atlantic Union Bankshares by 5.9% during the 4th quarter. Atria Investments Inc now owns 5,834 shares of the company’s stock worth $221,000 after purchasing an additional 326 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Atlantic Union Bankshares by 78.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock worth $35,000 after purchasing an additional 410 shares during the last quarter. Finally, Pettyjohn Wood & White Inc. raised its holdings in Atlantic Union Bankshares by 5.2% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 8,625 shares of the company’s stock valued at $327,000 after acquiring an additional 425 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

About Atlantic Union Bankshares

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, time deposit, and money market accounts; certificates of deposit; and other depository services.